Blackstone Inc. (NYSE:BX) Announces Quarterly Dividend of $1.29

Blackstone Inc. (NYSE:BX) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Monday, November 3rd will be given a dividend of 1.29 per share by the asset manager on Monday, November 10th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. This is a 25.2% increase from Blackstone’s previous quarterly dividend of $1.03.

Blackstone has a dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Blackstone to earn $7.14 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 52.1%.

Blackstone Price Performance

Shares of BX stock opened at $155.26 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a market cap of $114.44 billion, a P/E ratio of 41.74, a P/E/G ratio of 1.32 and a beta of 1.77. The business has a fifty day simple moving average of $170.54 and a 200 day simple moving average of $155.53.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $2.49 billion during the quarter. On average, sell-side analysts forecast that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after acquiring an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock worth $2,462,706,000 after acquiring an additional 227,416 shares in the last quarter. Norges Bank bought a new position in Blackstone in the second quarter worth approximately $1,071,348,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Blackstone by 16.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.